The Giant Flipkart-Walmart acquisition deal: Do traders have legal grounds to oppose it?
Flipkart-Walmart deal is the most talked about acquisition news in the past months. Officially, Walmart has now completed its 77% acquisition in Flipkart and has also got a go ahead from Competition Commission of India . But amidst the good news, is a bad one also where the retail traders across India have reportedly got affected and offended, pertaining to the new threat posing in front of them as the foreign giant is trying to enter retail market of India directly or indirectly. Let us go through the sequence of events in this Article in which the traders have taken legal recourse against the E-Commerce Unicorn and what are the laws in context. Competition Act, 2002 and Power of Competition Commission of India (CCI) Competition Act, 2002 provides for establishment of a Commission to prevent practices having adverse effect on competition among other aims. Legally, for any Acquisition (termed as a ‘ combination’ under the Competition Act, 2002) taking place involving entit...